Clear Street Group Inc. Trims Stock Position in Cleanspark, Inc. $CLSK

Clear Street Group Inc. lowered its position in shares of Cleanspark, Inc. (NASDAQ:CLSK) by 94.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,735 shares of the company’s stock after selling 422,464 shares during the period. Clear Street Group Inc.’s holdings in Cleanspark were worth $240,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. X Square Capital LLC purchased a new position in Cleanspark during the third quarter valued at approximately $2,900,000. New York State Teachers Retirement System grew its stake in Cleanspark by 37.7% in the 4th quarter. New York State Teachers Retirement System now owns 341,749 shares of the company’s stock worth $3,458,000 after buying an additional 93,649 shares in the last quarter. State of New Jersey Common Pension Fund D purchased a new position in Cleanspark in the 4th quarter worth approximately $2,019,000. Benchmark Financial LLC purchased a new position in Cleanspark in the 4th quarter worth approximately $1,255,000. Finally, Tudor Investment Corp ET AL grew its stake in Cleanspark by 496.7% in the 3rd quarter. Tudor Investment Corp ET AL now owns 1,732,268 shares of the company’s stock worth $25,118,000 after buying an additional 1,441,939 shares in the last quarter. Hedge funds and other institutional investors own 43.12% of the company’s stock.

Analyst Ratings Changes

CLSK has been the subject of a number of research reports. Weiss Ratings cut shares of Cleanspark from a “sell (d)” rating to a “sell (d-)” rating in a research note on Friday, May 22nd. Maxim Group boosted their price target on shares of Cleanspark from $18.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Chardan Capital boosted their price target on shares of Cleanspark from $16.00 to $19.00 and gave the stock a “buy” rating in a research note on Monday, June 8th. BTIG Research reissued a “buy” rating and issued a $26.00 price target on shares of Cleanspark in a research note on Tuesday, May 12th. Finally, Zacks Research cut shares of Cleanspark from a “hold” rating to a “strong sell” rating in a research note on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Cleanspark has a consensus rating of “Moderate Buy” and a consensus price target of $20.67.

Cleanspark Price Performance

Shares of Cleanspark stock opened at $17.14 on Tuesday. Cleanspark, Inc. has a 52-week low of $8.00 and a 52-week high of $23.61. The stock has a market capitalization of $4.40 billion, a price-to-earnings ratio of -8.16 and a beta of 3.79. The company has a fifty day moving average of $13.86 and a 200-day moving average of $12.17. The company has a debt-to-equity ratio of 1.81, a quick ratio of 8.26 and a current ratio of 8.26.

Cleanspark (NASDAQ:CLSK) last announced its quarterly earnings data on Monday, May 11th. The company reported ($1.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($1.27). Cleanspark had a negative net margin of 67.66% and a positive return on equity of 7.07%. The business had revenue of $136.41 million during the quarter, compared to analysts’ expectations of $145.36 million. During the same period last year, the company posted ($0.49) EPS. Cleanspark’s revenue for the quarter was down 24.9% on a year-over-year basis. Equities research analysts expect that Cleanspark, Inc. will post -1.19 EPS for the current year.

Cleanspark Profile

CleanSpark, Inc (NASDAQ: CLSK) is a leading energy software and services company specializing in advanced microgrid controls and distributed energy resource (DER) management. The firm develops proprietary software platforms designed to optimize power flows across on-grid and off-grid installations, integrating renewable generation, battery storage, and traditional generation assets. CleanSpark’s technology is used by utilities, commercial and industrial enterprises, and remote facilities seeking to enhance energy resilience, reduce operating costs, and achieve sustainability goals.

In addition to its core software offerings, CleanSpark provides end-to-end engineering, procurement and construction (EPC) services.